Islamabad: In another major step towards the promotion of the digital economy in Pakistan, the federal government has decided to make QR codes mandatory on all utility bills including electricity, gas, and telephone bills so that consumers can make quick and easy digital payments.
This decision was taken at a high-level meeting chaired by Prime Minister Shehbaz Sharif, which emphasized laying the foundation for a cashless economy in the country. Under this, the Secretary Petroleum and Chairman OGRA have been tasked with devising an integrated system within a month under which PoS, Soft PoS and QR code payment systems will be made mandatory at all petrol pumps.
The Chairman CDA has also been directed to review the existing laws and suggest legal amendments to make digital payments mandatory in all government and private services.
The State Bank of Pakistan has been given new instructions to further improve the targets of digital payments. The Ministry of Finance and the State Bank have announced a subsidy of up to Rs 3.5 billion to make digital transactions user-friendly.
Furthermore, a maximum of 0.25 percent MDR will be charged from merchants, while the providers will bear the charges in excess of this.
Economists are calling this step a “digital revolution” that will not only help document the economy but also give a new dimension to consumer convenience.
